By Kuldip K. Ambastha
In this past trading week, Sweetgreen Inc. (SG), a fast-casual restaurant chain, was revealed to be going public via an initial public offering (IPO) on the New York Stock Exchange (NYSE). This IPO was announced in a Form S-1 document filed with the U.S. Securities and Exchange Commission (SEC), stating that Class A common stock will be issued during an IPO with a goal of raising up to $100 million. When looking at revenues, Sweetgreen is showing strong growth compared with its peer companies. The company currently has 140 restaurant locations and a “plant-forward” (sustainable, inexpensive, regenerative, fresh, made from scratch, carbon-efficient, and aspiring to carbon-neutral) menu focused on healthy dining items. The company was founded in 2006, and will trade under the symbol SG as noted above. Pricing terms (such as a reference price per share) for the IPO were not disclosed, but several joint bookrunners (joint underwriters, aka: multi-bookrunner syndicate) of the IPO were disclosed. The company is looking to double its restaurant footprint in the next 3-5 years, has 2/3rds of its revenues coming from online sales at this time, and is aspiring to become profitable.
Keywords – Sweetgreen Inc., Sweetgreen, SG, fast-casual, restaurant, chain, going public, initial public offering, IPO, New York Stock Exchange, NYSE, Form S-1, U.S. Securities and Exchange Commission, SEC, Class A, common stock, revenues, profits, growth, double, expansion, footprint, online sales, pricing terms, reference price, joint bookrunners, joint underwriters, multi-bookrunner syndicate.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in SG, since its shares are privately held at this time.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2021 – Ambastha Financial LLC.
CONTACT US